The economic model of consumer behaviour explains how consumers' tastes and preferences are formed.

Name: The economic model of consumer behaviour explains how consumers' tastes and preferences are formed.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The economic model of consumer behavior primarily focuses on how consumers allocate their limited resources among various goods and services based on their preferences and prices, rather than explaining how these tastes and preferences are formed.

The Economic Model of Consumer Behaviour Explains How Consumers' Tastes